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State Grants to Enhance Protection Against Senior Financial Fraud.

This act establishes a federal grant program allocating $10 million annually to strengthen the financial protection of individuals aged 62 and older. These funds will go to state securities and insurance regulators to hire investigators, train prosecutors, and run educational campaigns, aiming to safeguard seniors' savings. The goal is to more effectively detect, prosecute, and prevent investment and insurance scams targeting older citizens.
Key points
States will receive up to $1 million annually to combat financial fraud targeting individuals aged 62 and older.
Funds must be used for hiring specialized staff, training law enforcement, and developing educational programs to help seniors avoid scams.
The law directly aims to increase the financial security of seniors by improving state agencies' capacity to quickly respond to fraud cases.
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Expired
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Additional Information
Print number: 118_S_4371
Sponsor: Sen. Van Hollen, Chris [D-MD]
Process start date: 2024-05-21
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Empowering States to Protect Seniors from Bad Actors Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_4371.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-05-21.

What are the main provisions?

Key points include:

  • States will receive up to $1 million annually to combat financial fraud targeting individuals aged 62 and older.
  • Funds must be used for hiring specialized staff, training law enforcement, and developing educational programs to help seniors avoid scams.
  • The law directly aims to increase the financial security of seniors by improving state agencies' capacity to quickly respond to fraud cases.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Van Hollen, Chris [D-MD].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Security Courts and Law Economy